Spacious Warehouse on Large
1612 NW 38th Ave, Fort Lauderdale, FL 33311
For Sale
$4,999,999
Large warehouse on a 51,000 SF lot, Lauderhill.
Property Size20,000 SF
Lot Size1.19 Acres
Price / SF$249
Days on Market248
Property Features for 1612 NW 38th Ave
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
G&E Realty Group, Inc.
Listed By:
Itshak M Mor-Yossef · License FL #3026619
(954) 682-5599
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of G&E Realty Group, Inc.
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Investment Insights
Based on property information with market context.
This property features a warehouse with over 20,000 square feet of space, situated on a 51,000 square foot lot. The property is located in Lauderhill and is positioned next to a UPS facility. One unit is currently vacant.
Key Highlights
- Large warehouse space: Over 20,000 sq ft
- Substantial lot size of 51,000 sq ft
- Prime location in Lauderhill
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$332,234
Cap Rate
6.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,644,680
$6.6M
Cap Rate 7%
$4,746,200
$4.7M
Cap Rate 9%
$3,691,489
$3.7M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$408.0K $20.40/SF
− Vacancy
−$17.1K −$0.86/SF
EGI
$390.9K $19.54/SF
− OpEx
−$58.6K −$2.93/SF
NOI
$332.2K $16.61/SF
Area
Fort Lauderdale, FL
Vacancy
4.20%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,644,680
Cap Rate 7%
$4,746,200
Cap Rate 9%
$3,691,489
Alternative Uses
Best Use
Warehouse
$4.75M
$4.15M – $5.54M
NOI $332,234 @ 7.0% cap · market cap 6.64%
Second Best
Industrial
$4.13M
$3.61M – $4.81M
NOI $288,792 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$13.44M
$11.76M – $15.68M
NOI $940,800 @ 7.0% cap · market cap 18.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,506
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Warehouses in Fort Lauderdale, FL
Properties on Market for Warehouses in Fort Lauderdale
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
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- Extra Space Storage — 3901 W Sunrise Blvd, Fort Lauderdale, FL 33311
- Nearby Storage Units - Lauderhill, FL — 3291 fl-838, lauderhill, fl 33311
- Armor Self Storage Unit — 3291 W Sunrise Blvd, Fort Lauderdale, FL 33311
Frequently Asked Questions
What type of property is this?
Warehouse - Large warehouse on a 51,000 SF lot, Lauderhill.
Where is this warehouse located?
The property is located at 1612 NW 38th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $4,999,999.
What are key features of this property?
This property features: Large warehouse space: Over 20,000 sq ft; Substantial lot size of 51,000 sq ft; Prime location in Lauderhill
